Japan Logistics Fund, Inc. to Acquire Two Logistics Properties in Tosu and Yokohama

Japan Logistics Fund, Inc. will acquire two properties on March 17, 2026: Tosu Logistics Center in Tosu, Saga Prefecture, and Yokohama Torihamacho (Land) in Kanazawa Ward, Yokohama, Kanagawa Prefecture. The total acquisition price is approximately JPY 2.4 billion, and the scheduled closing date is March 23. The seller is Ricoh Lease Company, Ltd.

Tosu Logistics Center will be acquired for JPY 751 million at an appraised NOI yield of 4.8%. Tosu City, where the property is located, has seen increasing clustering of logistics facilities as an area near the Tosu Junction, where the Kyushu Expressway, Nagasaki Expressway, and Oita Expressway intersect. In recent years, ESR, CRE, and Nishi-Nippon Railroad, among others, have successively launched developments in the area, further strengthening its advantage as a wide-area distribution hub serving all of Kyushu.(see related article:Nishi-Nippon Railroad Launches ‘MID LOGI’ Brand With First Logistics Development in Tosu )The property is a two-story facility with a Gross Floor Area of approximately 1,092 tsubo (approx. 38,865 sq. ft.) and offers a highly versatile specification with clear ceiling heights of at least 5.5 meters below beams.

Yokohama Torihamacho (Land) will be acquired for JPY 1,650 million at an appraised NOI yield of 4.6%. The property is located approximately 3.2 kilometers from the Sugita IC on the Bayshore Route of the Shuto Expressway, and the tenant is Fukuyama Transporting Co., Ltd. The Torihama Industrial Park is an industrial cluster developed in the 1970s and home to approximately 250 companies. In the surrounding area, major projects such as Landport Yokohama Sugita, a large-scale logistics facility completed by Nomura Real Estate Development and IHI, have helped drive renewed recognition of the bay area as a logistics hub. In addition to the stable income characteristics of a leased land asset, the location is also expected to offer future redevelopment potential. Both properties incorporate CPI-linked clauses, creating lease structures designed to capture rent growth in an inflationary environment.

Key Facts

• Buyer: Japan Logistics Fund, Inc.

• Seller: Ricoh Lease Company, Ltd.

• Tosu Logistics Center

  • Acquisition Price: JPY 751 million

  • Appraised Value: JPY 879 million

  • NOI Yield: 4.8%

  • Location: 1628 Aza Hasuhara, Himekata-machi, Tosu, Saga Prefecture

  • Nearest IC: Approximately 1.9 km from Tosu IC on the Nagasaki Expressway

  • Completion: May 2008

  • Number of Floors: 2F

  • Gross Floor Area: Approximately 1,092 tsubo (approx. 38,865 sq. ft.)

  • Ceiling Height: 5.5 m or more

  • Occupancy: 100%

• Yokohama Torihamacho (Land)

  • Acquisition Price: JPY 1,650 million

  • Appraised Value: JPY 1,970 million

  • NOI Yield: 4.6%

  • Location: 11-2 Torihamacho, Kanazawa Ward, Yokohama, Kanagawa Prefecture

  • Nearest IC: Approximately 3.2 km from Sugita IC on the Shuto Expressway Bayshore Route

  • Land Area: Approximately 3,002 tsubo (approx. 106,827 sq. ft.)

  • Tenant: Fukuyama Transporting Co., Ltd.

  • Occupancy: 100%